He also previously co-founded and served as CEO of Omniture, a web analytics company. Domo, +2 more Its continuing net losses for those years were $125.7 million in 2020, $84.6 million in 2021 and $102.1 million in 2022. , which announced an $80 million fund in December. By clicking Sign up, you agree to receive marketing emails from Insider This year, however, it will be Mellor who will be front and center as CEO. WebDomo, a Utah-based data-analytics company currently valued on the public markets at just shy of $1 billion, is expected by many analysts to be the next big cloud acquisition target. This arrangement can work when control is placed in the hands of a genuinely visionary and effective founder. Asked during the company's Domopalooza conference in March whether it was time to considering selling the business to a larger vendor like SAP or Oracle or Microsoft, James said: "We always take inbounds when we come. James sold Omniture to Adobe in 2009 for $1.8 billion. Who speaks. When I went out to Silicon Valley to try and raise money for my company, we literally were getting one-sixth the valuation of our competitors who were doing the exact same thing and were the exact same size, James said. Meanwhile, Domo frequently partners with SAP-owned Qualtrics, which is also headquartered in the Provo, Utah area. Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. It can blow up when it vests control in a founder whose talent is hype, or even when the visionary founder needs sage counsel and doesnt feel any pressure to listen. Who is sorted out. Who is replaced. Who deserves it. Heres a list, Dr. Simi is thrown at pop stars including Dua Lipa and Rosala. (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). Who leaves. Even before Domo reported its earnings this week, Cowen analyst Derrick Wood told Business Insider that the company's bull run wouldn't be likely to turn away a would-be buyer, even if the price tag may have gone up a little bit. Who is over. Who is chief. Access your favorite topics in a personalized feed while you're on the go. We face intense competition, and we may not be able to compete effectively. White House cyber plan would hold software companies liable for attacks, TikTok to set default daily time limit of 60 minutes for minors, TikTok faces bans in a number of countries over security fears. The moves were unveiled on the same day that Domo, founded in 2010 and based in American Fork, Utah, released its fiscal fourth-quarter and year-end 2022 earnings report. Precise information regarding Josh Jamess future plans was not immediately available. Now they want to use AI to find your friends too. Many organizations struggle to manage their vast collection of AWS accounts, but Control Tower can help. It is backed by some heavy hitters includingBlackRock, Greylock and Benchmark. But that may not be the most disturbing aspect of the IPO filing. Salesforce just spent $15.3 billion on Tableau in its biggest deal ever, meaning it might be disinclined to write another large check for a similar company, Wang notes. Who is right. Who is welcomed. The filing as a whole points to a persistent flaw in Silicon Valley financing: the willingness to give start-up founders unassailable control of their companies, to the point that investors have no recourse if things go blooey. Who designs. Says James: Haters gonna hate., This is a BETA experience. The Obviously, youth are attracted to tech, and because of that youth, we have a very tech-savvy state.. as well as other partner offers and accept our. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Who has to go. The days most visible group was Mothers Demand Action, members of which crowded the halls in a sea of red as they advocated lawmakers for gun control measures. James was the co-founder of Omniture, Inc., a provider of online business optimization products and services, and from 1996 to 2009, he served as its chief executive officer. Who kicks back. Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem. You can find out more about which cookies we are using or switch them off in settings. In addition, Catherine Wong, Domo's chief product officer and executive vice president of engineering since 2013, was named chief operating officer. All rights reserved. I dont need to do this, I just have got to find the biggest possible space, to be Facebook for your business. So for those skeptical if theyll hear a similar story again in one years time? It would have been helpful as a small Who is at rest. Josh James has stepped down as the companys CEO, Chairman and as a director. Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com. A glance through Domo Technologies IPO filing raises several red flags. "I obviously have an aligned and substantial interest in Domo doing well, and I'll continue to be the biggest curator.". (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';fnames[1]='FNAME';ftypes[1]='text';fnames[2]='LNAME';ftypes[2]='text';fnames[3]='MMERGE3';ftypes[3]='text';fnames[4]='MMERGE4';ftypes[4]='text';}(jQuery));var $mcj = jQuery.noConflict(true); exechange publishes weekly reports ($) on capital market-relevant executive changes. Who resigns. Pestana, the CEO and co-founder of Utah software company ObservePoint, has now joined the Domo board, according to the company announcement, increasing its size from seven members to eight. Domo founder and CEO Josh James Domo Domo is led by its charismatic founder CEO Josh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. No, I don't want to sell, but there's the reality of also having to face whatever is taking place with your ability to execute out there in the marketplace. According to Menninger, Mellor has the potential to be a strong successor to James. Some of James pronouncements from a year ago havent quite panned out. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and WebThere are 1200+ professionals named "Josh James", who use LinkedIn to exchange information, ideas, and opportunities. He previously founded Omniture, an online data analytics service that he sold to Adobe in 2009 for $1.8 billion. The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. Who is family. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. Who says what. He chalked this up to Utah being known at the time for having multi-level marketing companies as well as skincare companies, but James saw that Utah had the potential to become a tech powerhouse. Who is silent. His concentration, dedication, and hard work have assisted him to get this position. Weve been lying to everybody about what we wanted to do, says James. The company first publicly announced its platform in 2015. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. James beneficially owns all outstanding shares of Class A common stock through Cocolalla, LLC, of which he is the managing member, and as of January 31, 2022, beneficially controlled approximately 82% of the voting power of our outstanding capital stock and therefore is able to control all matters submitted to our stockholders for approval, the annual report said. BlackRock Kristin Murphy, Deseret News 8of 9 Who wishes luck. Clark is a longtime tech executive and the current chair of the Go Utah Board, which serves as the board of directors to the Governors Office of Economic Opportunity. My board doesnt want to call and ask about the data, he says. Who is in quest. Who is at eye level. In October 2018, BYU strategy professor Jeff Dyer invited James to speak at the BYU Strategy Professionals Conference because Dyer said James knows how to start companies, how to get attention to those companies and how to recruit. Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. Contact Ashley Stewart via email atastewart@businessinsider.com, message her on Twitter @ashannstew, or send her a secure message through Signal at 425-344-8242. Domo Technologies became the latest tech unicorn to reveal its plans to go public over recent months, as the business intelligence company filed for an IPO with the SEC recently. The company retained the tax benefit, known as Economic Development Tax Increment Financing. Whos old. Domo is one of the Utah companies that won no-bid state contracts at the beginning of the pandemic, along with Nomi Health and others as part of TestUtah.com, an effort to make testing more accessible that has since drawn controversy. However, users may SharePoint Syntex is Microsoft's foray into the increasingly popular market of content AI services. analysts identified Domo as a likely candidate to be the next big cloud acquisition, securities filing from the Omniture acquisition. Who bows. Who is victor. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. Regardless of Domo's newly-solid footing, however, it's long been eyed as a potential takeover target. Clearly, Josh James was a big personality. It took me four years to get rid of liquidation preferences at Omniture, says James, referring to provisions that often guarantee later investors get paid a certain amount or receive additional shares at an IPO. Who is hero. Domos move to slash its valuation by 75% in order to attract investors paid off, with the company successfully going public late last week. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. The business intelligence company is burning cash at an alarming rate, and has limited cash on hand. A look at Domo's collaboration chat tools, Buzz. Who benefits. Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. His seventh book, Iron Empires: Robber Barons, Railroads, and the Making of Modern America, has just been published by Houghton Mifflin Harcourt. Who is dismissed. Who is minor. The company held its "organizational meeting" last week, which is a first step as a company files the IPO paperwork, Recode'sTheodore Schleifer reported. James has been talking about this IPO since 2015. James made headlines this year after he suggested Domo was awarded a Utah tax incentive worth up to $23 million to keep the company in Utah, even though he reportedly had no plans to relocate. Who signs. Wong has been at Domo since 2013 and has long guided Domo on the product side, he noted, and will "no doubt have a big and important role as COO.". James says the skepticism of potential public investors and those who might doubt Domos high valuation or size is misplaced. Thats the downside of how James has structured his company. Domo has raised nearly $730 million in venture funding all told, and was valued at $2.28 billion in 2017, after its latest $115 million round in December 2017. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. Because of Domos fertility benefits, Stephan was able to successfully complete a round of in vitro fertilization and is currently in the second trimester of her pregnancy. I'm certainly not opposed to selling the company. The IPO wont change that materially. Stay up to date with what you want to know. A Domo spokesperson declined comment. He currently serves on the board of a newly organized special purpose acquisition company. Domo recently announced its first ever quarterly results since it went public in June, and the overall picture for the business intelligence company hasnt really changed much over the months since its IPO filing first gave investors a look at its operating figures. (Sydnee Gonzalez) WebThere have been a lot of places where Josh James Domo has shared his phone number. Who excites. James attended Brigham Young University for three and a half years and studied entrepreneurship. Domos new fund to invest in partners follows a playbook established by other would-be business ecosystem leaders like Who scolds. Competition in the business intelligence and analytics space has become especially fierce in recent years, making it increasingly important for companies in this space to invest extensively in sales and marketing (S&M) to acquire new customers. Who is there. Who is invested. WebJosh James sold his first company to Adobe for $1.8 Billion, his next startup Domo, a business software company, was recently valued at $2 Billion. Who packs in. There are several important variables within the Amazon EKS pricing model. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. In 2015, Domo burst onto the scene with little warning. The software company is considered one of Utahs few unicorns privately held startups valued at $1 billion or more though its finances raised questions when it went public in 2018. During his time as a BYU student, Josh James would sit with his friends on a bench not far from Y Mountain and look down at the businesses and new homes in the valley below. Who sees green. Who is hostile. Whos obsolete. Anthony Pompliano Net Worth Phone Number, House Address, Wiki, Ashley Massengill Net Worth | Bio, Family, Address, Career, Atlas Monroe Net Worth | Age, Height, Weight, Dating And More, Beyonce S Net Worth Phone Number, House Address, Wiki, Blue Ivy Net Worth Phone Number, House Address, Wiki. Who resigns. Hes also a sign of a crisis, ChatGPT who? Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. Domo is scheduled to host its annual user conference, Domopalooza, March 23, and for the first time will have someone other than James as its leader. Who is down. Who is successful. Last year was the big reveal, until it wasnt. Industry analyst Ray Wang of Constellation Research identified SAP and Google as potential acquirers, while other names that have come up include Amazon Web Services and Salesforce. Prior to Domo, James was best known for selling his previous company Omniture to Adobe for $1.8 billion in 2009. Josh founded Domo in 2010 with the mission of transforming business by He has some kind of unconventional rules, Dyer said about James business strategy. After selling Omniture to Adobe for $1.8 billion in 2009, Josh James' next act is Domo, a company that offers business analytics and other operational insights pulling from a range of sources into one app. Josh James, who founded Utah-based tech company Domo in 2010 and earned more than $12.3 million there in 2021, resigned effective March 1, according to a company news release. He was resistant to making that deal at first: A securities filing from the Omniture acquisition shows James first declined Adobe CEO Shantanu Narayen's advances, saying he preferred to discuss "partnership opportunities." Can religion save us from Artificial Intelligence? Who is bad man. In the agreement related to his departure as CEO, James agreed to vote in favor of the election of boards nominees for director and against the removal of any board member at Domos 2022 annual meeting. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. Keep up to date with Michael Hiltzik. On the other hand, Constellation analyst Wang thinks that neither Salesforce nor Amazon Web Services may be especially inclined to buy. NOW WATCH: What coronavirus stress is doing to your brain and body. Who is left. Facebook gives people the power to share and makes the world more open and connected. The question not being answered in the registration statement is: Whats the upside? Josh James, Domo founder and CEO, talks about bringing personal protection equipment to Utah as KN95 masks and eye protection are unloaded from a plane at the Salt Lake City International Airport on Wednesday, April 15, 2020. Do Not Sell or Share My Personal Information, Work phones make a comeback as offices ban WhatsApp, TikTok, The cameras know who you are. Previously, Carine Clark held leadership positions in software, market research and marketing companies. Members of the public flooded the State Capitol again on Tuesday. Who is host. Data is no longer a currency only to be banked, but is the fuel that drives the business, it said in its recently filed annual report. Its accumulated deficit as of April 30 is more than $803 million. Who presides. Who is victim. Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. Someones got to be on top. Who fits. Who is a friend. "He's intelligent and knowledgeable about the market and has helped lead the company to this point in its growth," Menninger said. Who is successor. Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Domo received a no-bid contract to develop a $2 million coronavirus dashboard for the state. Who leaves late. In disclosing risks, the annual report also notes that the way Domos common stock is structured in two classes concentrates voting control with James. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. Editors note This story is available to Salt Lake Tribune subscribers only. Replacing James as CEO and joining the American Fork companys board of directors is John Mellor, 55, Domos chief strategy officer since 2019. Who loses. Who prompts. Josh Jamess duties as CEO will be taken over by John Mellor, most recently Chief Strategy Officer at Domo Inc. Josh Jamess move coincides with a management shake-up also involving the position of Chief Operating Officer. Other than trying to prove Utahs force in the tech industry, James Silicon Slopes initiative has changed the way businesses work, especially when it comes to diversity. Who accepts. Domo CEO Josh James says his company's move Tuesday to a freemium model and new app ecosystem are the result of a big five-year reveal while announcing $130 million in new funding. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax Privacy Policy The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. Join Facebook to connect with Josh James and others you may know. The board may require Pestana to to be recused, or may restrict his access to information, in connection with any future proposals from James, the agreement adds. Domo offers cloud software for "business intelligence and analytics." The company faced hurdles early on in the coronavirus crisis, slashing its headcount by a reported 10% as part of a $30 million cost-saving plan, even as Morgan Stanley speculated that the situation might exacerbate some of Domo's pre-existing problems when it came to its closing deals. var _Hasync=_Hasync||[];_Hasync.push(['Histats.start','1,4553220,4,511,95,18,00000000']);_Hasync.push(['Histats.fasi','1']);_Hasync.push(['Histats.track_hits','']);(function(){var hs=document.createElement('script');hs.type='text/javascript';hs.async=true;hs.src=('//s10.histats.com/js15_as.js');(document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild(hs);})(); Josh James Domo is a famous person who is known worldwide for his work. Why Domo's IPO Valuation Is Down Over 75% From Its Last Funding Round, Domo's Rumored $2 Billion Valuation Looks Steep Given Operating Metrics, Competition, Utah Unicorn Domo Files To Go Public, Latest Tech Startup To Cash In On IPO Rush, American Dream Leadership Series #3: Catherine Wong, DOMO, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. I suspect Mellor's style will be different, and it probably makes sense for him to have a different style.". Despite James' apparent reluctance to sell, analysts still think Domo is an attractive acquisition for big tech companies. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. Josh James, who founded Utah-based tech company Domo in 2010 and earned more than $12.3 million there in 2021, resigned effective March 1, according to a Most recently, the vendor added collaborative development capabilities in September 2021 and launched a more efficient version of Domo Everywhere, its embedded analytics platform, in June 2021. In fact, that confidence led him to drop out of BYU only a few classes shy of graduation. (Credit: Rebecca Ricks/Domo). For businesses using Domo, data will flow in from its own sources on fixed intervals, such as every 5 minutes, and the spigot can be turned off at any time. Who is vested. The CEO change and other personnel moves -- Carine Clark is now Domo's executive chair and John Pestana was appointed a new independent director -- come with Domo in a strong financial position. Who steps back. In the company news release, James said he was very excited for Domos future under Mellors stewardship as the new CEO. Defeating Ransomware With Recovery From Backup. How to assess the Push-out Score: a 10-step guide. WebOne of Utah's leading cloud unicorns, Domo has raised money more like a Silicon Valley company: $690 million so far, and James says he may not be done. Thank you for supporting local journalism. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. Because the majority of his employees are married with families, as compared to Silicon Valley which is mostly single people, James has tried to find a way to convince not just his employees but their families that his company is a great place to work. Who comes. Who is thrilled. Who is big kahuna. In pink tops and white pants, women celebrate free period products becoming available in Utahs state buildings, Proposal to boost Utah bar licenses gets smaller with another round of cuts by lawmakers, Moab, Park City cry foul as Utah lawmakers target rules for vacation homes. Dig into the numbers to ensure you deploy the service AWS users face a choice when deploying Kubernetes: run it themselves on EC2 or let Amazon do the heavy lifting with EKS. To subscribe, click here. One of Utah's leading cloud unicorns, Domo has raised money more like a Silicon Valley company: $690 million so far, and James says he may not be done. From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. Josh James is on Facebook. Pre-IPO, James has 91.7% of the votes. (Rick Egan | The Salt Lake Tribune) Ed Catmull, then-president of Pixar and Walt Disney animation studios, visits with Josh James, then-CEO of Domo, at Domopalooza 2017 in Salt Lake City. Domo said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. Those comments found Domo CEO Josh James under investigation by the Governor's Office of Economic Opportunity into whether or not he violated an agreement with the state. "The question will be what his style is as CEO. Who bows out. Who goes ahead. Why not us?. Domos Business Cloud platform enables processes that are dependent Last week, Domo, a publicly traded cloud software company based in American Fork, Utah announced that Joy Driscoll Durling has joined the companys board of directors. We keep you up to date on the latest CEO changes. Slack Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. Domo Technologies is no longer on the coveted list of unicorns, with the business intelligence company recently filing to go public at a valuation of roughly half a billion dollars. The way to sit here was not a simple process. Carine Clark has been a director since March 2019 and has served as a member of the Audit Committee and as Chairperson of the Compensation Committee. To accomplish this, James has invited his employees families to Halloween parties at the office and tailgates for BYU vs. Utah games. Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. Who serves. Who is first. The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. sltrib.com 1996-2023 The Salt Lake Tribune. Its been a huge blessing for my family personally because weve had to end up using it, Stephan said. Who suffers. Josh James is an American entrepreneur, founder and former CEO of Domo, a software-as-a-service (SaaS) company. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. 2018 is already shaping up to be a good year for enterprise tech IPOs with Dropbox now public and Pluralsight,Zuora, DocuSign, SmartSheet, and Pivotal all filing their paperwork and waiting in the wings. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". Domo CEO Josh James onstage at Domopalooza in 2015. I sold Omniture when we felt like we should have sold Omniture and it was the right time.". You may get in touch with him by calling his office phone. Who obeys. Who is shamed. Ready to drive increased productivity with faster pc performance? Facebook gives people the power to share and makes the Budgeting Amid Todays Macro Uncertainty: Advice From a CFO, Telemundo Debuts El Domo Del Dinero, The First Original Reality Competition Shot In Its Own Studios, After 5x Recovery, Domo Has No More Room To Grow, The CIO-Plus Of Vivint Smart Home Named To The Board Of Domo.